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David Friedberg: Rising Rates Could Trigger a Banking Shock Right Before the Midterms

All-In Podcast · Oct 05, 2026 · Industry Trends

Rising Treasury rates may trigger banking equity write-downs just before midterm elections

“about 95 banks will say, "Hey, we have over 20% depreciation on our equity."”

David Friedberg analyzes how a 60 basis point rise in short-term Treasury rates could force roughly 95 of 4,295 FDIC-reporting banks to report equity write-downs exceeding 20%. The reports are due October 30th, coinciding with the election cycle. This content has no meaningful AI signal and is focused on macroeconomic and banking risk.

banking interest rates macroeconomics financial risk

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